sharing briefly steps
• From PO, prepayment invoicing (use when your vendor issues an invoice)
â—‹ Capture prepayment details on the PO on the purchase tab in ribbon
â—‹ Raise a Prepayment invoice
§ Liability is in prepayment account and not in AP summary account in GL
§ Vendor balance reflects the prepayment and also seen in vendor transactions
â—‹ Create a REGULAR vendor payment journal settling the prepayment invoice
â—‹ Raise final invoice after receiving from vendor and USING actions: apply prepayment in the invoice posting time
Show the final vendor invoice due amount is reduced by the prepayment amount.
